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<table width="100%" summary="page for bankingCrises"><tr><td>bankingCrises</td><td style="text-align: right;">R Documentation</td></tr></table>

<h2>
Countries in Banking Crises
</h2>

<h3>Description</h3>

<p>A <code>data.frame</code> identifying which of 70 countries had a 
banking crisis each year 1800:2010. The first column is 
<code>year</code>.  The remaining columns carry the names of the
countries;  those columns are 1 for years with banking 
crises and 0 otherwise.
</p>


<h3>Usage</h3>

<pre>data(bankingCrises)</pre>


<h3>Format</h3>

<p> A <code>data.frame</code> </p>


<h3>Details</h3>

<p>This file was created using the following command:
</p>
<p>bankingCrises &lt;- readFinancialCrisisFiles(FinancialCrisisFiles)
</p>
<p>This is documented further in the help file for
<code>readFinancialCrisisFiles</code>.
</p>
<p>This is an update of a subset of the data used to create 
Figure 10.1.  Capital Mobility and the Incidence of 
Banking Crises, All Countries, 1800-2008, Reinhart and 
Rogoff (2009, p. 156).
</p>
<p>The general upward trend visible in a plot of these data 
may be attributed to at least two different factors:  
</p>
<p>(1) The gradual increase in the proportion of human labor 
that is monetized.  
</p>
<p>(2) An increase in the general ability of cronies of 
those in power to gamble with other people's money in 
forming and bankrupting financial institutions.  The 
marked feature of this plot is the virtual absence
of banking crises during the period of the Bretton Woods 
agreement, 1944 to 1971.  This period ended when US 
President Nixon in effect canceled the Bretton Woods 
agreement by taking the US off the silver standard.
</p>


<h3>Author(s)</h3>

<p>Spencer Graves</p>


<h3>Source</h3>

<p><a href="http://www.reinhartandrogoff.com">http://www.reinhartandrogoff.com</a>
</p>


<h3>References</h3>

<p>Carmen M. Reinhart and Kenneth S. Rogoff (2009) This Time Is
Different:  Eight Centuries of Financial Folly, Princeton U. Pr.
</p>


<h3>See Also</h3>

<p><code>readFinancialCrisisFiles</code>
</p>


<h3>Examples</h3>

<pre>
data(bankingCrises)
numberOfCrises &lt;- rowSums(bankingCrises[-1], na.rm=TRUE)
plot(bankingCrises$year, numberOfCrises, type='b')

# Write to a file for Wikimedia Commons
svg('bankingCrises.svg')
plot(bankingCrises$year, numberOfCrises, type='b', cex.axis=2,
     las=1, xlab='', ylab='', bty='n', cex=0.5)
abline(v=c(1945, 1971), lty='dashed', col='blue')
text(1958, 14, 'Bretton Woods', srt=90, cex=2, col='blue')
dev.off()
</pre>


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